Cyprus Property News
Cyprus | Posted:

New bill to ban Russian Officials from investing in Cyprus Property

Problems for Russian investments in Cyprus could be created by a new bill filed in the Russian Duma and which prohibits state officials to purchase property and open bank accounts abroad.

The Moscow Times say that if the bill is approved, destinations such as Cyprus will be affected enormously. The affected Russian government departments are among others the Office of the Prosecutor, the Investigative Committee, the Customs Agency, members of the Duma and Federal Council.

The aim of the bill is to increase transparency among public officials.